- ORIGINAL NEWS
Watch Fed Chair Jerome Powell testify live on Capitol Hill before House panel
- SUMMARY
Federal Reserve Chairman Jerome Powell testified before a Congressional committee today.
He hinted that the Fed might reduce interest rates later this year, but only if inflation starts to return to the target level of 2% annually.
Powell is likely to be questioned further on Thursday.
- NEWS SENTIMENT CHECK
- Overall sentiment:
neutral
Positive
“In prepared remarks, the central bank leader indicated that interest rate cuts are likely this year but not until the Fed gains more confidence that inflation is headed back to its 2% annual goal.”
“Powell said.”
“Experts believe the Fed’s policy rate is likely at its peak for this tightening cycle.”
Negative
“Wednesday before the House Financial Services Committee as part of his congressionally mandated semiannual testimony on Capitol Hill.”
“Powell is likely to face a variety of questions during his two-day visit to Capitol Hill.”